But this market is getting tough....
$7 oil bounce with a 2 dollar retrace... so far...
I would just like a job some time.
I was just doing some reading.... Does the black helicopter crowd think there was currency intervention?
Wednesday, August 13, 2008
I don't know about anyone else
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6 comments:
IMo - yes, a few days before the Olympics.
currency intervention?
or that it got tough to trade?
It should be time to get short soon.
Glad to see you around.
this isn't a bad place to have tried your long gold - long oil trade. I'll be curious if it comes down to the 112 level again. 113.50 is the 50% retracement... another good place to try oil..
gold looks to go to 145... then Retest... Curious how that will go.
Both, currency and tough to trade.
I'm putting on the shorts starting with SRS.
I'm long silver, also long oil via a trust, will try USO directly.
Staying away from gold for now, want to see if the 75week ma holds and if yes, then i'll play the bounce. Also, waiting for the COT guy to check this weekend if gold shorts are covering at all (the "smart money").
I doubt the dollar is going far.
every move in the market becomes a fast money momentum play and goes parabolic.
and it's not much fun...
seems like we are trying to shake ourselves out.
I agree, think the dollar is about done for now.
They're saying the crisis is worse in Europe but I'm just not seeing it. Unless they hold a lot of American paper.
I'm looking forward to the fall. Summer market is confusing.
They hold lots of paper, who do you think C, and MS was selling them to?
I'd bet 2/3rds of it is foreign held.... But most of it is held like a bond, and it will just go bad or not. In the investment portfolio
the stuff held by foreign banks, the accounting rules aren't as strict.
it's the 2006 stuff that is the worst, when millions of Glorified Telemarketers qualified people for loans on cocktail napkins.
But the paper does get better. From when they didn't realize you could qualify pets for loans.
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